Understanding your property claim

Thank you for placing your trust in Travelers Canada. We know experiencing damage to your home is difficult, which is why we work hard on each and every claim we handle.

Our skilled, knowledgeable claim professionals are committed to assisting you throughout the claim process. We’ve assembled this guide to help explain the process and to answer some frequently asked questions.

Your Travelers Canada claim professional is committed to:

• Explaining the claim process clearly so you know what to expect

• Carefully and thoroughly evaluating your damages

• Discussing our findings with you

• Providing a detailed estimate of your damages

• Resolving your claim as quickly as possible

• Answering any questions you may have throughout the process

We’re here to help

We encourage you to contact us if you have any questions regarding your claim or anything in this guide.

For more information about the property claim process, visit travelerscanada.ca.

Getting back to normalHas your home sustained damage that needs to be repaired? If so, one of the first things you should do is decide who will repair your property. You may choose to have a contractor complete the job, or you may perform the repairs yourself. For tips on choosing a contractor, please see the FAQ section of this guide.

If you opt for a contractor, give him or her a copy of the Travelers Canada estimate. If any questions arise, please have the contractor call your Travelers Canada claim professional before beginning any repairs.

Should you make any temporary repairs to your home? Ask your Travelers Canada claim professional to advise you of any immediate steps you can take to prevent further damage to your home before making permanent repairs. Keep all receipts and invoices for any work completed.

When can you expect payment? You will receive your eligible benefits paid by Travelers Canada at the time of the inspection or shortly after completion and communication of the estimate. Your deductible will be subtracted from this payment.

Depending on the size and type of your loss, Travelers Canada may be required to include your mortgage company on your payment. If this is the case, you should contact your mortgage company as soon as possible to find out how to properly handle the payment. Payments based on initial or subsequent estimates may not constitute a final resolution of your claim.

Q: How do you calculate the estimate for my damages? A: Generally, your Travelers Canada claim professional

will prepare a repair estimate using state-of-the-art software that takes into account local material prices and labour rates. Our estimating software is the same as the software used by many restoration contractors. Our estimates are based on materials comparable to those found in your home before it was damaged.

Q: Do I need to hire a contractor?A: You are not required to hire a contractor to complete

the work. If you wish to do so, you are free to hire the contractor of your choice. We encourage you to check references before hiring anyone. Be sure your contractor is insured and bonded.

Q: What if the contractor finds damage not included in my initial estimate?

A: It is possible that once a contractor begins working, he or she may discover a need for repairs beyond those originally authorized. If this occurs, please have your contractor contact your claim professional before conducting further repairs. Travelers Canada may need to complete another inspection with your contractor present.

Q: What do the terms “replacement cost value” (RCV) and “actual cash value” (ACV) mean?

A: Replacement cost value (RCV) is the estimated cost of repairing a damaged item or replacing a damaged item with a similar one. Actual cash value (ACV) is the estimated value of the item or damage at the time of the loss. Generally, ACV is calculated as RCV minus depreciation.

Q: What is depreciation? A: Depreciation is the loss of value that occurs over time

to buildings and most personal property due to factors such as age, wear and tear, or obsolescence.

Q: Can I recover the withheld depreciation?A: If you have replacement cost coverage included on

your policy, you may be able to receive additional money to cover the depreciation of your property. In that case, you may receive two or more claim payments – an initial payment based on the ACV of your property and then additional payment(s) once you repair and/or replace the damaged property and provide us with the documentation. Please refer to your policy for more information.

Q: How do I determine the damage to my personal property (i.e., contents)?

A: Your Travelers Canada claim professional will work with you to complete an inventory of your damaged personal property. This inventory will be used to develop an estimate for the ACV and the RCV of your damaged contents. Your claim professional can explain this in greater detail.

Q: What should I do with receipts for personal property I have replaced?

A: When replacing your damaged items, be sure to always save your receipts. Your Travelers Canada claim professional may ask you to provide them for reimbursement purposes. If recoverable depreciation applies, you may be able to claim your reimbursable funds up to two years after the date of your loss.

Frequently asked questions

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This document is provided for informational purposes only. It does not, and it is not intended to, provide legal, technical or other professional advice, nor does it amend, or otherwise affect, the provisions or coverages of any insurance policy or bond issued by The Dominion of Canada General Insurance Company, St. Paul Fire and Marine Insurance Company or Travelers Insurance Company of Canada and their subsidiaries and affiliates (collectively “Travelers Canada”). Travelers Canada disclaims all warranties whatsoever.

© 2014 The Travelers Indemnity Company. All rights reserved. Travelers and the Travelers Umbrella logo are registered trademarks of The Travelers Indemnity Company in the U.S. and other countries.

The Dominion of Canada General Insurance Company, St. Paul Fire and Marine Insurance Company and Travelers Insurance Company of Canada are the Canadian licensed insurers known as Travelers Canada. C-40000 New 12-14

My claim information

Customer name:

Claim number:

Date of loss:

Claim professional:

Claim professional’s phone number:

Claim professional’s email address:

Miscellaneous: